Jim Iuorio's S&P 500 Trade

On CNBC's "Fast Money Halftime Report," Jim Iuorio suggested that investors should consider a bullish futures trade in the S&P 500.

He thinks that the U.S. dollar's weakness has been good for anything denominated in dollar, but it seems to him that today's strength in the dollar is good because the market sees it as a sign that things are not out of control. The Fed involvement and the government spending are additional catalysts for Iuorio's bullish thesis.

He wants to buy the September contract in the S&P 500 at $3,280, with a target price at $3,330 and a stop loss at $3,250.